6
WEDNESDAY, AUGUST 10, 1988
THE GROWTH
RATE
IN REAL
OF TERMS
PRIVATE
CONSUMPTION
WITH
EXPENDITURE HAS BEEN REVISED DOWNWARDS TO 8.8 PER CENT, COMPARED THE PREVIOUSLY PUBLISHED ESTIMATE OF 9.6 PER CENT.
GROSS AT "ONSTANT MINOR REVISIONS HAVE ALSO BEEN MADE TO THE ESTIMATES FOR DOMESTIC FIXED CAPITAL FORMATION AND IMPORTS OF SERVICES PRICES.
REVISED PRODUCTION-BASED GDP ESTIMATES FOR 1986 (TABLE 2)
WHICH THE REVISED PROVISIONAL ESTIMATE OF THE PRODUCTION-BASED GDP AT
COST), FACTOR CURRENT PRICES FOR 1986 IS $284,810 MILLION (AT HAS BEEN REVISED SLIGHTLY UPWARDS BY $227 MILLION OR 0.1 PER COMPARED TO THE PROVISIONAL ESTIMATE PUBLISHED IN FEBRUARY 1988.
CENT AS
ΤΟ MADE BEEN
THE AND STORAGE $798 MILLION
RELATIVELY MORE SIGNIFICANT REVISIONS HAVE ESTIMATES FOR THE CONSTRUCTION SECTOR AND THE TRANSPORT, COMMUNICATION SECTOR, IN WHICH AN UPWARD ADJUSTMENT AND A DOWNWARD ADJUSTMENT OF $1,116 MILLION HAVE BEEN MADE.
OF
THE
ESTIMATE FOR
PER 4.5
CENT IN TERMS OF PERCENTAGE CONTRIBUTIONS TO GDP,
STORAGE AND THE CONSTRUCTION SECTOR HAS BEEN ADJUSTED UPWARDS FROM
THAT FOR THE TRANSPORT, WHEREAS
TO PER CENT, TO 4.8 COMMUNICATION SECTOR HAS BEEN ADJUSTED DOWNWARDS FROM 8.4 PER CENT 8.0 PER CENT.
SECTORS ECONOMIC OTHER REVISIONS MADE TO THE
ARE GENERALLY
INSIGNIFICANT.
ECONOMIC
FOLLOWING SURVEYS
THE PRODUCTION-BASED GDP ESTIMATES HAVE BEEN REVISED
THE ANNUAL THE AVAILABILITY OF FINAL RESULTS FROM COVERING VARIOUS SECTORS.
THE SCHEDULE FOR PUBLISHING GDP ESTIMATES
PROCESS OF THE ROUTINE REVISIONS OF THIS NATURE ARE PART OF
BECAUSE THE DATA OFTEN PRODUCING ESTIMATES OF THE GDP. THEY ARE NECESSARY USED IN COMPILING THE GDP ESTIMATES ARE AVAILABLE IN STAGES AND WITH SIGNIFICANT TIME LAGS.
ESTIMATES,
OF
AS A RESULT, THE COMPILATION OF THE PRELIMINARY GDP WHICH ARE PUBLISHED AROUND FEBRUARY/MARCH OF EACH YEAR AT THE TIME THE BUDGET, INVOLVES USING PARTIAL DATA FOR THE PREVIOUS YEAR WITH THE DATA GAPS BEING BRIDGED UP BY EXTRAPOLATION AND JUDGEMENT.
THE OVER
COMPLETE DATA THE GDP ARE
TWO YEARS, INCREASINGLY
OF ESTIMATES
FOLLOWING
AS
THEY
DO,
THE
BECOME AVAILABLE AND, SYSTEMATICALLY REVISED AT HALF-YEARLY INTERVALS.
FURTHER DETAILS CONCERNING THE REVISED
GDP ESTIMATES
MAY RE STATISTICS
OBTAINED FROM THE NATIONAL INCOME BRANCH OF THE CENSUS AND DEPARTMENT ON TEL.
5-8235077.
Table 1